The European Union warned the US yesterday against plunging the world into depression by adopting a planned “Buy American” policy, intensifying fears of a trade war.
The EU threatened to retaliate if the US Congress went ahead with sweeping measures in its $800 billion (£554 billion) stimulus plan to restrict spending to American goods and services.
Last night Mr Obama gave a strong signal that he would remove the most provocative passages from the Bill.
“I agree that we can’t send a protectionist message,” he said in an interview with Fox TV. “I want to see what kind of language we can work on this issue. I think it would be a mistake, though, at a time when worldwide trade is declining, for us to start sending a message that somehow we’re just looking after ourselves and not concerned with world trade.”
he is a complete fuck up. how many years will it be before the media and all of his jonestown supporters see the light.
history proves that tariffs are a recipe for disaster! my God, everything he’s done has been an embarrassment. he doesn’t know anything, he has no experience.
This is why I hate politics and overly political people. It’s been 3 fucking weeks. Lay off. I mean unless you can do a better job. Things won’t get better overnight.
Last night Mr Obama gave a strong signal that he would remove the most provocative passages from the Bill.
“I agree that we can’t send a protectionist message,” he said in an interview with Fox TV. “I want to see what kind of language we can work on this issue. I think it would be a mistake, though, at a time when worldwide trade is declining, for us to start sending a message that somehow we’re just looking after ourselves and not concerned with world trade.”
**“history proves that tariffs are a recipe for disaster” **
That response was no where near hysterical and out of control enough. Heaven forbid a guy “Reword” something.
I’m by NO MEANS a supporter of most of Obama’s current policy, but good lord people he’s been in office 3 weeks. I’m not sure if people really bought all this “Change” BS, apparently so, but really it’s just another president. There’s only so much “Change” that can go on in 3 weeks and it’s not like we are trying to go from black to white. We are trying to go from one shade of grey to another so the “change” isn’t going to be all that noticable anyway.
For those who keep complaining about this or that in the stimulus bill, and how Obama MUST be responsible…please remember that Obama doesn’t write the bill.
I suggest those who don’t understand this watch the following informative video:
It’s BIG news up here in Canada as well. With a very large percentage of our exports going to the U.S., you can bet that it’s got a lot of people up in arms. The Canadian economy contracted in the last quarter of last year, not because of what was going on here in Canada domestically( Domestic numbers were in light of things, pretty good), but because of the dramatic and abrupt slow-down in the U.S. economy. If the U.S. goes even further and starts to erect trade barriers, that will cause even more chaos in Canada.
I am not an economist, but I do know this - the world economy, good or bad, has become so inter-connected that for one country and in this case perhaps the most important country and economy in the world, to abruptly change course, it will have dramatic and negative consequences in many other countries around the world. I would have thought that a man of President Obama’s intellect would know this.
I would have thought that a man of President Obama’s intellect would know this.
I’m fairly sure he does, but as with all “Policy” one tries to work in little tid bits for everyone. His supporters are strongly union and thus very “Protectionist” by nature. The few lines put into the stimulus package was meant to throw them a bone. However if you actually read the bill itself, it has ZERO by way of teeth and would serve only as a talking point for his next speech.
In short if implemented as is it wouldn’t change trade in anyway.
However “Words mean things” and if you try and use them to your advantage, in this case “Look what I’m doing for you” you’re bound to have someone else look at them another way, as in “Look how that’s going to screw us”.
This bill is really changing in the Senate. I see we are now going to potentially give $15,000 tax break to anyone who buys a new home.
I guess I missed out on this one: any who buys a new car after Nov. 12, 2008 would get an income tax deduction for sales taxes paid and interest payments on car loans. Drat, I bought a car 10/31. Guess I missed out on my bit of pork…
Unfortunately for Canada and most of the world, the boosting of your economy and that of many other countries over the last couple of decade owes part of its success to the overindulgence of the US. We were living beyond our means and our trade deficits and debt reflects that. I would anticipate that the economy of Canada will undergo a re-centering.
Be glad that you sold so many goods to us while you could, and I hope for your sake that you made us pay cash!
Drat, I bought a car 10/31. Guess I missed out on my bit of pork.
Which brings up a very good point. At what point does one say “Hey I want my piece”.
I run a small manufacturing company and from the looks of my competitors, vendors and customers it’s looking REALLY bleak out there. Seems to me I could use a chunk of that “Stimulus” package but I’m not sure I could live with myself “Morally”, if I ate the pork ribs.
OTOH how do you compete with your neighbor when they have their head stuffed in the trough?
please remember that Obama doesn’t write the bill.
Yes and the Fed isn’t part of the government, but do you really think a Deomcrat controlled house does anything without getting a democrat presidents blessing and input?
His supporters are strongly union and thus very “Protectionist” by nature.
How do these people sleep at night?
Where do these people shop?
What do they buy?
Do they read the “Made in ______” sign on a product**?**
Have they tried to even get through a day, “buying American”?
Do they know how much things would cost if they shift back to being Made in America?
Would they pay that amount?
I know the answer to all of these questions, they are rhetorical, but it does get to the root of the issue.
We are waaaaay too far down the world-integrated-economy-road to retreat from where we are now.
Just like every wetsuit on the planet be it for surfing, diving or for triathlon, Nineteen wetsuits are made in China. The Chinese do an outstanding job at delivering a well made product and a reasonable price. On this topic, would triathletes be willing to pay, say, $1500 for a top-end wetsuit if it was “Made in America”?
please remember that Obama doesn’t write the bill.
Yes and the Fed isn’t part of the government, but do you really think a Deomcrat controlled house does anything without getting a democrat presidents blessing and input?
~Matt
I think he gave them a broad guideline, for example, saying the bill has to be a combination of tax cuts and stimulus spending, or he won’t sign it.
But, he clearly isn’t asking them to insert $50 million into the bill for sod. Nor did he ask for $200 million for contraception, but he did ask for it to be removed.
So he influences the bill, yes, but blame for specific line items should probably be directed at whoever put that into the bill (is that even available anywhere?)
To answer most of your questions these “People” make a hell of a lot more for doing similar or less work than the “General” population. However they also bitch as much as everyone else about “Prices”.
We are waaaaay too far down the world-integrated-economy-road to retreat from where we are now.
Although I would agree with the idea that we need and prosper from a world economy, I don’t think we have gone to far to reverse some of the trends. However “Protectionist” trade policies is NOT the way to do it. We do it by simply accepting one or more of the following facts, either we pay more for product, we work for less, we work more, become more efficient or some combination.
By doing the above we become “Competitive” and “Manufacturing” of goods slowly comes back, because the market says so.
The idea that we can’t make our own T-shirts because American labor is too expensive is complete BS. I would bet there are any number of people out there right now that would take a part time T-shirt making job even if it was at wages below minimum wage. Hell I might be interested if the hours were flexible enough and I HAVE a job…for the time being
The idea that we can’t make our own T-shirts because American labor is too expensive is complete BS. ~Matt
As proved by American Apparel. As it turns out, you can pay a decent (but not great) wage and make it as a US manufacturer. I imagine 25k/year is not a “liveable” wage in LA, but it’s better than nothing.
But, he clearly isn’t asking them to insert $50 million into the bill for sod. Nor did he ask for $200 million for contraception, but he did ask for it to be removed.
The fact that he even knows what each individual line item is in the bill indicates he is in constant contact with those writing it. The fact that they took out a line item on his request indicates they listen to what he says. Put the two together and it’s hard to get around the idea that he is basically writing the bill.
is that even available anywhere?
Yes HERE is the text although I believe it has been modified recently. Belly up and enjoy the barbecue
I think this is another rookie mistake. During the campaign he could pretty much speak of doing things like this with impunity, but now he is in the real world, and there are consequences to his words and actions. I was not surprised to hear the rhetoric during his campaign, they all play to their constituencies, but I'm a little disappointed that he may have not known better than to actually try to implement this.
I imagine 25k/year is not a “liveable” wage in LA, but it’s better than nothing.
And if one tosses the ideology of “Liveable wage” to the side then “Better than nothing” becomes negotiable.
How many college kids might be willing to work for less than minimum wage? How many teenagers, part time workers etc etc might work for less? How many illegal immigrants could we make “Legal” that are working for less than minimum wage now and then still remain at that level?
You do nothing but open up opportunities and as long as labor and the employer negotiate the price, what right does the government have to say “No you can’t work for that”?
But, he clearly isn’t asking them to insert $50 million into the bill for sod. Nor did he ask for $200 million for contraception, but he did ask for it to be removed.
The fact that he even knows what each individual line item is in the bill indicates he is in constant contact with those writing it. The fact that they took out a line item on his request indicates they listen to what he says. Put the two together and it’s hard to get around the idea that he is basically writing the bill.
I doubt he knows every individual line item, especially considering it had changed daily. I am going to guess he wasn’t aware of the “sod and condoms” until the media jumped on it.
